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Bitcoin (BTC), Litecoin (LTC), Dash (DASH) Halving Events Set to Occur in This Number of Days

Mon, 04/24/2023 - 13:00
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Tomiwabold Olajide
Anticipation builds for Bitcoin, Litecoin and Dash halvings
Bitcoin (BTC), Litecoin (LTC), Dash (DASH) Halving Events Set to Occur in This Number of Days
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Wu Blockchain reports the expected countdown for Bitcoin, Litecoin and DASH halving events, citing data from multi-crypto chain explorer OKLINK.

According to OKLINK, there are only 100 days left before Litecoin's next halving event. The countdown to the DASH halving event is 58 days, while that for BTC halving is 369 days.

Bitcoin halving

Bitcoin is slightly more than a year away — about 369 days away — from its halving event. According to OKLINK, the estimated date is April 27, 2024.

Halving slashes in half the amount of coins that Bitcoin miners receive as rewards. The quadrennial event is part of the process of capping the Bitcoin supply at 21 million tokens.

Based on historical cycles, the impending halving is presently priced in by 50%, according to Jamie Douglas Coutts, a Bloomberg Intelligence analyst. According to Coutts, Bitcoin might reach $50,000 by April 2024.

Although many things have changed and the network is much stronger, Coutts noted that Bitcoin has never experienced a prolonged period of severe economic contraction. "Bitcoin cycles bottom around 12 to 18 months prior to the halving," he added.

Litecoin halving

The upcoming and third halving event in Litecoin is expected to happen on approximately Aug. 2, 2023, according to OKLINK, which gives a countdown of 100 days to this anticipated event.

The first halving event occurred on Aug. 25, 2015, at a block height of 840,000. The second halving event occurred on Aug. 5, 2019, at a block height of 1,680,000.

After every 840,000 blocks are mined (roughly every four years), the block reward halves and will keep on reducing until the block reward per block hits zero (around the year 2142). The block reward is currently 12.5 coins for each block and will eventually halve to 6.25 coins per block in the next halving event.

DASH halving

Dash halving occurs on the Dash blockchain approximately every four years (or every 840,000 blocks), where the block reward for miners is slashed by half.

The expected date for DASH halving is June 22, 2023, according to OKLINK, which gives a countdown of about 58 days.

The halving event is a crucial one for the Dash network because it has an impact on how many new coins are put into circulation, which has an impact on the supply and demand dynamics of the cryptocurrency.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.